§ 2-20-402 - Definitions. - Arkansas Statutes

2-20-402. Definitions.

As used in this subchapter, unless the context otherwise requires:

(1) "Board" means the Arkansas Soybean Promotion Board created pursuant to this subchapter;

(2) "Net market price" means:

(A) The sales price or value received by a producer for soybeans after adjustments for any premium or discount based on grading or quality factors, as determined by the secretary; or

(B) For soybeans pledged as collateral for a loan issued under any price support loan program administered by the Commodity Credit Corporation, the principal amount of the loan;

(3) "Secretary" means the Secretary of Agriculture of the United States;

(4) "Soybean Promotion, Research and Consumer Information Act" means the federal Soybean Promotion, Research and Consumer Information Act of 1990, Subtitle E of Title XIX, of the Food, Agriculture, Conservation and Trade Act of 1990, P.L. No. 101-624, as amended from time to time, and any order issued pursuant thereto by the secretary; and

(5) "United Soybean Board" means the United Soybean Board created by the Soybean Promotion, Research and Consumer Information Act.